The Sunday morning news. [volume] (Jersey City [N.J.]) 1886-1891, 1887-07-17
CHAPTER CXXX.

A further supplement to an &C. entitled
AN act concerning taxes" approved
April fourteenth, one thousand eight
hundred and forty-six.
1. Be it enacted by the Senate and GEN
eral Assembly of tn, State of New Jersey,
That all moneys now on deposit or here
after deposited in the court of chancery
which are or shall be invested upon any
security, and all moneys that are or shall
be deposited therein and which shall have
remained uninvested for the period of six
months from the date of tie deposit there
of, and all real or personal estate now held
or that shall hereafter be held by the said
court or any officer or appointee thereof,
or by the chancellor in his official capacity
belonging to any individual, partnership,
or corporation, or in which any individ-
ual, partnership or corporation has or may
have the beneficial interest, shall be SUBJ
ject to taxation at the full and actual value
thereof as other money or real and person
al estate is or may be taxed according to
the laws of this state
2. Aud be it enacted, That all boards
and officers charged with the duty of
assessing persons or property for taxation
shall assess all persons aud corporations
owning or having the beneficial interest in
such money or other personal property or
estate and residing or located in the re-
spective cities, towns and other taxing
districts of this state, for and on account
of such money and other personal proper
ty or estate at and according to the respec-
tive interests therein of such persons and
corp rations; and in all cases where the
owners or parties having the beneficial
interest in such money or other personal
property are non residents of this sta te
the taxes thereon or on account thereof
shall be assessed aud paid 10 city town or
other taxing district where the same is
he'd or deposited at the time when assess
ments for taxation are made.
3, And be it enacted That all real estate
that is now or may be hereafter held by
the chancellor in his official capacity in
which any individual or corporation has
or may have the beneficial interest, shall
be assessed for taxation in the several
cities, towns aud taxing districts of this
state, as other zeal estate is or may be as
sessed therein.
4. Be it enacted, That all taxes assessed
in pursuance of this supplement shall be
and remain claim against the persons and
corporations owning or having the benef-
cial interest 10 the property against and on
account of which the same shall be assessed
! and also the same lien as other taxes as
| sesssd on or on account OF similar property
are or shall be in the respective cities,
towing and other taxing districts of this
state wherein the said property shall be as
sessed; and in addition TO the remedies for
the collection of taxes. for the time being,
it shall be lawful for all boards and officers
for collecting taxes to apply to the chancel-
lor by petition for the payment of the taxes
assessed upon or on account of such pro
perty with interest and costs, and upon
such petition it shall be lawful for the
chancellor to order the payment of such
taxes, interest and cost out OF the interest
or income of the said money or real or per-
sonal property or estate, and if the interest
or income thereof is not sufficient to make
the payment, then the same shall be paid
out of the principal of the money so de-
posted, and the whole or such part of said
other personal or real property or estate as
may be necessary to raise the amount OF
the taxes, interests and costs shall be sold
by direction OF the chancellor; and in case
OF the sale OF any real estate Tor the pur